Connecticut's 2016C General Obligation Bonds Rated 'AA-/A-1'; Other Ratings Affirmed; Outlook Stable

NEW YORK (S&P Global Ratings) June 6, 2016--S&P Global Ratings has assigned its 'AA-/A-1' ratings to the State of Connecticut?s $300 million general obligation (GO) bonds, 2016 series C (variable-rate demand bonds). At the same time, S&P Global Ratings affirmed its 'AA-' rating on Connecticut's GO debt outstanding, its 'A+' rating on the state's appropriation-secured debt, and 'A-' moral obligation debt rating. The outlook is stable. "The long-term ratings reflect our view of high wealth and income levels, a diverse economy, ongoing revenue and expenditures that remain near structural alignment, active monitoring of revenues and expenditures to identify and correct mid-fiscal year budget gaps, and adequate operating liquidity," said S&P Global Ratings credit analyst David Hitchcock. "The short-term rating on

...NEW YORK (S&P Global Ratings) June 6, 2016--S&P Global Ratings has assigned its '##-/A-1' ratings to the State of Connecticut's $300 million general obligation (GO) bonds, 2016 series C (variable-rate demand bonds). At the same time, S&P Global Ratings affirmed its '##-' rating on Connecticut's GO debt outstanding, its 'A+' rating on the state's appropriation-secured debt, and 'A-' moral obligation debt rating. The outlook is stable. "The long-term ratings reflect our view of high wealth and income levels, a diverse economy, ongoing revenue and expenditures that remain near structural alignment, active monitoring of revenues and expenditures to identify and correct mid-fiscal year budget gaps, and adequate operating liquidity," said S&P Global Ratings credit analyst David Hitchcock. "The short-term rating on the 2016C bonds reflects the credit quality of the liquidity agreement provider, Bank of America N.A., for the demand feature on the bonds," Mr. Hitchcock added. S&P Global Ratings...

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